Fox Corp (FOXA) — payout ratio, three ways
Fiscal year ending 2026-06-30 · sector Communications · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 17.0% | The figure most screeners publish. |
| Operating cash flow | 14.6% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 19.6% | What is left after maintaining the business. |
Spread between highest and lowest: 5 percentage points. Same filings, different denominators.
Coverage rating 66 / 100 — Adequate. ? Peer standing 35/50Direction 18/30Stability 13/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2026-06-30 | 19.6% |
| 2025-06-30 | 9.3% |
| 2024-06-30 | 18.8% |
| 2023-06-30 | 20.7% |
| 2022-06-30 | 19.5% |
| 2021-06-30 | 15.3% |
Coverage worsened sharply this year, 9.3% to 19.6%, after no clear trend before it. One year is not a trend, but it is worth knowing which direction the last one moved.
Among the 27 communications companies here, 70% pay out a larger share on this basis.
The arithmetic
- GAAP earnings — dividends declared per share $0.65 ÷ diluted EPS $3.84
- Operating cash flow — dividends paid $287.0m ÷ operating cash flow $1,970.0m
- Free cash flow — dividends paid $287.0m ÷ (operating cash flow $1,970.0m − capex $502.0m)
Where the figures came from
- 10-K filed 2026-08-06 · accession
0001628280-26-053960
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Caveats on this company
- DPS derived from dividends paid ($0.65); no per-share tag filed
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.